Middle-East's QNB Group starts banking ops in Mumbai

QNB Group, the largest financial institution in the Middle-East and Africa, today said it has commenced operations in Mumbai.
"The start of the group's operations in the Republic of India comes in support of its vision to become a leading bank in the Middle-East, Africa, and South-East Asia by 2020, in addition to establishing a foothold in highly competitive markets," it said in a statement.
Through its new branch in India, which started recently, the group offers a full spectrum of banking products and services. It also offers wealth management, investment portfolios, project finance and smart banking solutions, among others.

Of late, India, the second most populated country and the fastest growing major economy, has been expanding trade ties with Qatar and the Middle-East. The country is the third largest importer of liquefied natural gas from Qatar, the company said.
QNB Group's total assets reached USD 211 billion as of June 30, 2017, the highest ever achieved by the group, and net profit for the six months to June stood at USD 1.8 billion.
The group is present in over 31 countries across three continents through its subsidiaries and associate companies.